Lets not totally follow the IE way blindly on this one though - IE stupidly makes Open Link the first entry in the right click menu, which is totally non-intuitive. Netscape did it much better by putting Open In New Window there instead.
I mean, if you wanted to open the link, why didn't you left click it?

I also reckon that K-Meleon should use the middle mouse button ala Netscape on Linux - ie. middle mouse clicking should open the selected link in a new window.

This is one of my main beef's with IE, and one of the reasons I never switched.
Favourites suck too - bookmarks (and the netscape bookmark manager) are much better with Netscape - but that's an issue for another day